Moneycontrol
you are here: HomeNewsBusinessIPO
Nov 09, 2017 12:36 PM IST | Source: Moneycontrol.com

After Rs 829-crore IPO, Mahindra Logistics to debut on bourses on November 10

The initial public offering was oversubscribed over 7.9 times during October 31-November 2, 2017.

Moneycontrol News @moneycontrolcom
 
 
live
  • bselive
  • nselive
Volume
Todays L/H
More

Mahindra Logistics, the 3rd party logistics (3PL) solutions provider, will list its equity shares on exchanges on November 10. The issue price is fixed at Rs 429 per share.

The initial public offering was oversubscribed over 7.9 times during October 31-November 2, 2017.

The reserved portion for qualified institutional buyers (QIBs) was oversubscribed 15.60 times, non-institutional investors 2.04 times and retail investors 6.10 times.

The subsidiary of Mahindra & Mahindra raised Rs 829.35 crore through the issue, at higher end of price band of Rs 425-429 per share. Out of which, Rs 247 crore had raised from anchor investors.

The issue comprised sale of 1,93,32,346 equity shares, including offer for sale of 96,66,173 shares — amounting to 13.74 percent stake — by parent firm Mahindra and Mahindra.

Normandy Holdings and Kedaara Capital also pared their stake in the logistics firm by selling 92,71,180 and 3,94,993 shares, respectively. Normandy Holdings is a 100 percent subsidiary of Kedaara Capital.

Kotak Mahindra Capital Company and Axis Capital were book running lead managers to the issue.
Sections
Follow us on
Available On